The UK property market is now viewed as one of the most expensive markets in the world. Year on year increases make buying property more difficult for first time buyers. Remortgaging your property can be a major expense so best to check carefully what you are doing with qualified people and companies.

The odds are not stacked in your favour!

Mortgage companies want us to remortgage more every year so they can out extremly high fees on our mortgages making them even more money than they currently make which is millions of pounds every year. Mortgage advisors earn roughly 0.5 when you can pay 0 on your credit cards. Speak to you broker and see if you can get these in the mortgage you can again save thousands.

Shop around

If you arent a credit card tart yet then if your looking at you mortgage its certainly time to get going on your credit cards. Shop around and get a great rate there are loads at 0 cards that are for 1 year and get a offset mortgage so basically you are borrowing money at 0 on it again! Extremley clever and extremly dangerous if you miss payments.

So you borrow money for free and make 6 interest and YES they are legal!

Look at your credit card statements and all your debts and mortgage staement get to understand this stuff!

Now or Never

Look at the future

Ah the never never! Such a nice feeling to pay nothing now and get it in the neck later. Its like being a kid with the sweets. I'll eat them all now and later, well who cares?

Ignore the future

Some people say they market is so crazy who knows what will happen in the future. Yeah maybe but ignoring the future will just make you even less prepared for all the things you may need later on!

Plan for the future

Get a piece of paper and write down what you'll be doing over the next 25 years. Did your face drop? Well your just going to sign up for 25 years you better be ready.

Remember this isnt a dog for christmas this is a financial product that just wont go away once you have signed on the dotted line so be prepared!

Revalue Your House

Why?

Once great way of getting a better mortgage product is to get a bigger deposit. Ok how do you get more deposit? Get a bigger evaluation. If you havent got a recent evaluation you may be missing out on thousands at the time of writing this the market changed 10% in three months in this area. On an average home of Â£200,000 that's about Â£20,000 deposit you just got for free. Why don't you go and get it and use it to get a better rate?

Invite three estate agents for tea

To get a good market quote get three or more estate agents to value your property this way you can use the top two to get the best price for the mortgage company.

Ask them how to improve the price of the house.

Estate agents sell houses. Ask them what they would improve on yours. You may be able to do some simple stuff to get a better price. Ie front garden in to a parking space or even a loft conversion. One more bedroom in a London house can easily add Â£25,000-Â£40,000 to a property.

What did next door sell for

You can always check out what people sold for their houses in the street near you very easily.

Government Grants

Check it out

You wont believe this but its true there are still government grants avaiable for home inporovements. So check with your local couincil they may help with renovation work.

Check with mortgage company

Mortgage companies like it when you improve your home as there risk is better on a propoerty that instantly grows in value. Check with your broker about mortgages with improvement loans.

Who is online

Users browsing this forum: No registered users and 10 guests

You cannot post new topics in this forumYou cannot reply to topics in this forumYou cannot edit your posts in this forumYou cannot delete your posts in this forumYou cannot post attachments in this forum